Paulson to urge against India-Iran gas pipeline
US authorities say that the world should impose greater discipline on its interactions with companies that do business with Iran. Transform your biz dream into reality
By PTI |
WASHINGTON: After imposing sweeping sanctions against Iran, the US on Thursday said it was hopeful that India will not move forward on the IPI pipeline project to transport gas from the Islamic country.
"With regard to the Iran pipeline issue... we are hopeful that India won't move forward on this. Secretary (Nicholas) Burns has said that very clearly," Under Secretary of Treasury for International Affairs David McCormick in an India briefing ahead of visit of Treasury Secretary Henry Paulson visit to India from Oct 27-31.
McCormick said the world should be imposing greater discipline on its interactions with companies and financial institutions that do business with the Iran government.
"More broadly that this is not the right path forward. We have been very clear on that," the Treasury official said.
McCormick said the US had a "profound understanding" of India's energy needs and it was "one of the underlying pieces of logic" of the civil nuclear deal.
"But we don't see a pipeline with Iran providing India with any real energy security given the state of the Irani an regime," he said, adding "so we're hopeful that India will not move forward on that."
The Bush administration has imposed a sweeping set of unilateral sanctions against Iran, the most stringent since 1979 revolution. The punitive measures targetted Iran's banks, defence ministry officials, agencies affiliated with its weapons programmes as well as the elite revolutionary Guards Corps along with eight affiliated companies.
The ambitious trination pipeline from India to Iran will pass through Pakistan.
"With regard to the Iran pipeline issue... we are hopeful that India won't move forward on this. Secretary (Nicholas) Burns has said that very clearly," Under Secretary of Treasury for International Affairs David McCormick in an India briefing ahead of visit of Treasury Secretary Henry Paulson visit to India from Oct 27-31.
McCormick said the world should be imposing greater discipline on its interactions with companies and financial institutions that do business with the Iran government.
"More broadly that this is not the right path forward. We have been very clear on that," the Treasury official said.
McCormick said the US had a "profound understanding" of India's energy needs and it was "one of the underlying pieces of logic" of the civil nuclear deal.
"But we don't see a pipeline with Iran providing India with any real energy security given the state of the Irani an regime," he said, adding "so we're hopeful that India will not move forward on that."
ADVERTISEMENT
The Bush administration has imposed a sweeping set of unilateral sanctions against Iran, the most stringent since 1979 revolution. The punitive measures targetted Iran's banks, defence ministry officials, agencies affiliated with its weapons programmes as well as the elite revolutionary Guards Corps along with eight affiliated companies.
The ambitious trination pipeline from India to Iran will pass through Pakistan.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
